XM500 rifle is the most recent creation of famous American Barrett Firearms co. This rifle, first shown in 2006, is intended to provide lighter and more compact alternative to popular Barrett M82 "Light fifty" rifle,which is widely used by military and law enforcement forces around the world.The new weapon will provide better accuracy (because of stationary,non-recoiling barrel) and same range as Light Fifty, while being lighter and significantly shorter, thanks to its bullpup layout. According to available information, this rifle is developed primarily for US Armed forces, and is still in development / prototype stage.

Barrett XM500 long range sniper / anti-material rifle is a gas operated,semiautomatic rifle. Gas chamber and piston are located above the barrel. Barrelis locked using rotary bolt. Stock is of bullpup layout and made of metal, with rubber buttplate. Rifle is fitted with detachable lightweight bipods, adjustable for height. There are no open sights as of now, but rifle is fitted with integral Picatinny rail on the top of the receiver, so any type of sights can be installed using appropriate mounting interfaces.